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V3183-20 22 October 2020 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · contratos por diferencias

CFD contract results are taxed as capital gains or losses for Income Tax purposes

The taxpayer asks how to tax the results of trading CFDs. The DGT rules that, if the margin serves only as a guarantee, these contracts are not considered transfers of own capital, but rather capital gains or losses.

The question raised

First question. Tax classification corresponding to the results derived from the operations carried out

The DGT's ruling

CFD results are classified as capital gains or losses for Personal Income Tax purposes if the margin functions as collateral. The result is determined by the difference in the values of the underlying asset, including commissions and dividend compensations, but excluding financing interest. The temporal imputation occurs when the right or obligation to pay is generated, which implies that in daily settlements, results are obtained each day. These incomes are included in the savings tax base.

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